Best Buy Co. Inc. (NYSE: BBY) is scheduled to release its fiscal first-quarter financial results before the markets open on Thursday. The consensus estimates from Thomson Reuters are $0.74 in EPS on $8.73 billion in revenue. In the same period of last year, the specialty retailer said it had EPS of $0.60 and $8.53 billion in revenue.
Recently, the company announced that it would be cutting ties with China’s Huawei Technologies, amid heightened scrutiny on Chinese tech firms in the United States.
Also, Best Buy has announced that it will close its 250 small-format mobile phone U.S. stores, but rather than reflecting problems at the electronics retailer, the move illustrates so much of what it has been doing right as it proves a retailer can push back at Amazon.
In early April, the company reported that it had been the victim of a cyberattack. The third-party firm Best Buy uses to chat with customers, [24]7.ai, indicated that customer payment information may have been compromised between September 27 and October 12, 2017. And if that were the case, then a number of Best Buy customers would have had their payment information compromised, as well.
[nativounit]
We can look for more updates like this as well as earnings in Thursday morning’s report.
Over the past 52 weeks, Best Buy has outperformed the broad markets, with its stock up about 46%. In just 2018 alone, the stock is up only about 10%.
A few analysts weighed in on Best Buy ahead of the report:
- Wedbush has a Sell rating with a $48 price target.
- Wells Fargo has a Market Perform rating and a $77 target.
- Loop Capital has a Buy rating with an $83 price target.
- Credit Suisse has a Hold rating with a $74 price target.
- Merrill Lynch has a Buy rating with an $87 target price.
- Morgan Stanley has an Equal Weight rating and a $74 target.
Shares of Best Buy were last seen trading at $75.55, with a consensus analyst price target of $75.68 and a 52-week range of $50.29 to $79.90.
[recirclink id=461826]
[wallst_email_signup]
Top Gaining Stocks
Top Losing Stocks